Your not gonna miss $5000 as much as someone would that makes $35,000/yr.I like neds point when you observe it as a long term approach, wheather it be a long term use or if it aids in a sale.Ryan Watson -- actually the IRS regulations were changed in 1986 I believe to specifically "keep down the rich man".

I'll suggest you find a broker, lending is highly regulated.

I own 3 student rental properties in a city in Michigan that closely regulates rental properties.

To abide by any rules or regulations adopted by the Landlord to promote the convenience, safety, or welfare of tenants in the premises to preserve the property or fairly distribute services or facilities."

When I actually looked into the state and county regulations myself, I found this wasn't true.

ALWAYS start reading laws and regulations from the first sentence otherwise you'll be reading stuff that may not be applicable.

William Roberts asside from the regulations from the state is there any service I will need to form the contract like a lawyer or notary for signing the document?

It is often independent and makes / enforces its own rules and regulations.

You have to work within the zoning, and HOA regulations.

And this is from EPA regulations, so it is federal law that affects ALL states.